A thought about our culture of punching down.

[dawg]

5. It's not even "shareholder" primacy capitalism; it's "insider" primacy capitalism.

If you're a small shareholder like me, they won't hesitate to throw you under the bus for the sake of their directors, officers, and sociopolitical class in general.

I was a shareholder in Bear Stearns, and watched in horror as management used "my" money to bail out wealthy hedge fund investors who were supposedly big boys and girls who knew the risks they were taking. I immediately sold my stock and side-stepped the majority of the losses that would follow. But it was obvious that the Company was not being managed primarily for the benefit of the ordinary shareholders.